Strategic MoU to Simplify EV Buying
VinFast India has signed a Memorandum of Understanding (MoU) with the Central Bank of India (CBI) to make electric vehicle ownership more accessible and affordable for Indian buyers. The partnership offers tailored financing solutions across VinFast’s EV portfolio, including attractive interest rates, flexible repayment options, zero processing charges, and priority loan approvals.
On-Site Support for Seamless Experience
Dedicated CBI representatives will be stationed at VinFast showrooms nationwide, assisting customers with loan processing and approvals on the spot. This initiative aims to reduce paperwork and ensure a hassle-free buying experience for both urban and semi-urban EV customers.
Leveraging Nationwide Reach
CBI’s extensive network—comprising over 4,550 branches and more than 21,000 touchpoints—provides VinFast with unmatched distribution strength, enabling the company to reach buyers in metros, tier-2 cities, and smaller towns.
EVs in India: A Tipping Point
With the launch of VF 6 and VF 7 SUVs and the inauguration of its Tamil Nadu assembly plant, VinFast is poised to capture a growing segment of India’s EV market. India’s EV adoption faces barriers such as high upfront costs, and this financing tie-up directly addresses one of the key hurdles for potential buyers.
Executive Insights
Pham Sanh Chau, CEO of VinFast Asia, stated, “Partnering with one of India’s most trusted nationalised banks creates a strong foundation for VinFast’s growth in India, expanding accessibility across both urban and rural markets.” CBI has already deployed ₹4,200 crore in green finance and plans to expand this by another ₹1,600 crore in the current fiscal year.
Why This Matters
By eliminating processing fees, providing priority approvals, and offering flexible financing, VinFast and CBI are reducing barriers to EV adoption, positioning VinFast as a mass-market EV brand rather than a niche urban player.
